1099 filing requirement question

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  • Fluffyduck
    Junior Member
    • Feb 2013
    • 5
    #1

    1099 filing requirement question

    I have a client who buys and sells timber. Sometimes as lump sum and sometimes as pay-as-cut. Is he required to send the landowner a 1099 either way? He is having trouble getting customers to give him their social security numbers so that he can file these.
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    • Traveling EA
      Member
      • Jan 2013
      • 99
      #2
      1099

      Most of the taxpayers I see with timber sales have a 1099 S from the timber company. Your clients should not be cutting or buying their timber without first getting a SS number from them. If they refuse, he can do a 20% backup withholding prior to paying them.

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        • Fluffyduck
          Junior Member
          • Feb 2013
          • 5
          #3
          Originally posted by Traveling EA
          Most of the taxpayers I see with timber sales have a 1099 S from the timber company. Your clients should not be cutting or buying their timber without first getting a SS number from them. If they refuse, he can do a 20% backup withholding prior to paying them.
          I agree he should have gotten the SS number first, but too late for that now. Does he file the 1099 S without a SS number, or just not file them at all?

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